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Saturday, August 9, 2014

Real estate markets back to peak levels?

Are are home sales (prices) in your locality back to 2006 levels? Many of us only determine an answer to that question based upon the "for sale" signs spotted on our block or without our neighborhood. The general impression is that home values have been rising since the real estate bubble burst in the 2006 market collapse. But back to peak levels? The real data may be surprising.

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You may be an avowed procrastinator, but if you want to sell a house this year, start planning now. The process, say sellers, always takes longer than expected. So get your home inspected now; there may be unseen major repairs to address. Declutter, clean closets and shelves, store extraneous possessions and furnishings and other stuff that might keep sellers from picturing themselves in your space. Attend an open house or two to get an idea of how to stage yours. And move along: Owners still waiting for the market to peak should beware that this real estate cycle may be shorter-lived than last.Ines Flax